Tag: South Carolina insurance

Adjusters released a number of recommendations to homeowners affected by last week’s storms. Last weekend hundreds of homes were hit by an EF1 tornado and throughout this week, tornado insurance adjusters have been dispatched. They’ve been visiting the affected areas of South Carolina and Louisiana. As insurance companies do their best to assist the victims of the storms, they have also issued advice. The tornado insurance adjusters have made a number of recommendations to homeowners still waiting for their damage to be assessed. As many of the homeowners don’t know…

A surge of filings is expected to take place after the waters rose and left massive damage in parts of the state. The South Carolina insurance industry is getting ready for a large wave of claims on policies for flood coverage, though it remains too early to know exactly how much damage has occurred in the state. The S.C. Department of Insurance has been sharing its contact information in order to help affected homeowners. The National Flood Insurance Program (NFIP), from FEMA has also been sending out information to help…

Governor announces that the state will not build and operate its own exchange South Carolina will not be developing its own health insurance exchange, according to Governor Nikki Haley. The decisions is expected to impact more than 154,000 people living in the state, whom currently receive subsidies from the federal government to cover the cost of their health insurance policies. The state already has an insurance exchange, but it is managed by the federal government. Depending on a ruling from the Supreme Court, subsidies offered through the exchange may no…

Department of Insurance believes that insurance policies will increase in cost next year The South Carolina Department of Insurance has predicted that the four health insurance companies that are selling policies through the state’s insurance exchange will again sell these policies during the exchange’s next open enrollment period. These plans will go active next year, but the agency believes that they will be more expensive than they were during the last open enrollment period. The agency will not know for sure if these policies will be more expensive until later…

The state has now reached an all time high, according to a report that was recently released. Complaints have been rising in South Carolina with regards to insurance fraud, to the point that they are now reaching the highest point that they have ever been, with over 1,200 having been filed last year. This, according to a report that was recently released by Attorney General Alan Wilson. The Insurance Fraud Division of the office of the Attorney General put out an annual report that underscored the fact that attorneys had…

The size and frequency of the claims is making coverage more expensive in South Carolina. Drivers in South Carolina are finding that they are paying more than they might have to in other states due to the number and frequency of liability insurance claims that are occurring in the state, and the fact that while those practices are perfectly legal, the current system has placed the state at risk of a certain degree of fraud. There are currently 28 states in which there are not any restrictions when it comes…

Residents of the state are increasing their awareness and are taking advantage of it at an increasing rate. According to recent news data, the number of people who are taking advantage of a tax credit for homeowners insurance purchased for hurricane and flood coverage is on its way up in South Carolina. The state tax credit is currently available for an amount of up to $1,250 per property owner. The latest data has shown that the number of homeowners insurance customers who are taking advantage of this tax credit in…